If the intent is to keep the income passive, then an S-Corp would be a poor entity to use.  

Might be 0% if you're poor, but more likely 15% or 20% depending on your income.Of course, I'm not a CPA or tax preparer, but I think that's about right.If you can delay the sale somehow those two months, so that it's your primary residence for 2 years, you should qualify for the homeowners exclusion.I hope that helps,Good luck.

Is it safe to retire when your net rental income = expenses (seems very risky to me) or when it is 2x, 4x (seems like a reasonable bet), or 10x your expenses?

It is unlikely that a novice borrower with poor credit will be able to secure a loan if they do not bring some of their own funds to the project.

Is my best bet Hard Money?

@Wilson Adams, consider making a small bet first.

The 1% rule is a "poor man's" cap rate because you can do it in your head, but even it isn't an end all be all. 

If you can gross closer to the $14k estimate you gave while keeping expenses the same you'll be getting almost a 5% return which is still pretty poor but at least you'd be making something at that point.   

A seems like the safer bet for long term tenants and the 18 yrs olds might jump around every year. 

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